Infosys ADR (American Depository Receipt) jumped nearly 40 per cent in early trade on Friday, surprising investors and market participants. The immediate trigger is not known. The trading was halted on the NYSE after the stock hit $26.62, up $7.44 or 38.79 per cent on the NYSE.
However, at Nasdaq, the stock after hitting $30, corrected sharply to rule at $22, still up over 15 per cent.
The underlying Infosys stock on the NSE on Friday closed at ₹1,638.70, up 0.7 per cent.
In fact, all major IT companies, , , , edged up in today’s trade following Accenture’s quarterly results that were reported on Thursday after Indian market closing hours.
Accenture on Thursday reported its Q1-FY2026 earnings, with new bookings reaching $20.9 billion, up 12 per cent year-on-year in dollars and 10 per cent in local currency. Advanced AI bookings stood at $2.2 billion, marking a 76 per cent year-on-year growth in dollar terms.
Revenues for the first quarter of fiscal 2026 were $18.74 billion, an increase of 6 per cent in dollars and 5 per cent in local currency, and were at the top of the company’s guided range of $18.1 billion to $18.75 billion, or 1 per cent to 5 per cent growth in local currency. Q1 advanced AI revenues stood at $1.1 billion, at a growth of 120 per cent y-o-y in dollars.
Siddhartha Khemka – Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd, said: Information technology stocks were in focus, with the sector gaining on the back of strong cues from Accenture’s better-than-expected first-quarter results and positive sentiment around Tata Consultancy Services after it outlined its strategy to become the world’s largest artificial intelligence-led technology services firm.